Patty Connolly's Blog
Receiving multiple offers on a residence is a home seller's dream come true. However, if a home seller faces a tight deadline to review several homebuying proposals simultaneously, making the right decision may prove to be exceedingly difficult.
Ultimately, evaluating multiple home offers at the same time can be quick and seamless – here are three tips to ensure that you can review various home offers and make an informed decision.
1. Consider the Homebuyer's Perspective
Although you probably won't be able to find out the identity of a homebuyer who submits an offer on your home, you may be able to learn about the homebuyer's perspective if you study a home offer closely.
For example, a homebuyer who wants to close on a residence as soon as possible may face a time crunch. And if this buyer has fallen in love with your home, he or she may do anything possible to acquire it.
On the other hand, a homebuyer who submits a lowball proposal may be looking for a bargain. Therefore, this home offer may fall far below your initial expectations, and you should not hesitate to decline or counter the proposal.
2. Analyze the Housing Market
Operating in a buyer's market or a seller's market may dictate how you proceed with multiple offers on your house.
If you've listed a house in a seller's market, the number of homebuyers likely exceeds the number of first-rate houses that are available. As such, you may want to accept a home offer in a seller's market only if it matches or exceeds your expectations.
Comparatively, if you're working in a buyer's market, there likely is an abundance of high-quality residences and a shortage of homebuyers. Thus, you may be more inclined to accept a home offer that nets you the biggest profit – even if the home offer falls shy of your initial home selling expectations.
3. Collaborate with a Real Estate Agent
If you're unsure about how to approach multiple offers on your home, it certainly pays to consult with a real estate agent. In fact, a real estate agent can help you examine various offers and decide which home offer – if any – is right for you.
By hiring a real estate agent, you'll gain an expert ally who will support you throughout the home selling journey.
Typically, a real estate agent will learn about your home selling goals and ensure you can set a competitive price for your residence. He or she also will host home showings and open houses, negotiate with homebuyers on your behalf and do everything possible to help you get the best price for your home, regardless of the real estate market's conditions.
Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and queries. And if you have questions about a home offer, your real estate agent is available to respond to your questions at any time.
Take the guesswork out of evaluating multiple offers on your home – use the aforementioned tips, and you can determine the best course of action based on the home offers at your disposal.
Lot 3 Hydrangea Circle , Falmouth, MA 02536
Ready to discover your dream home? With help from your loved ones, you may be able to accelerate your journey from homebuyer to homeowner.
Ultimately, there are many reasons to include family members and friends in your search for the perfect home, including:
1. Loved ones are happy to help you in any way they can.
Loved ones have your best interests in mind and will do whatever they can to assist you. That way, you can get extra help as you embark on the homebuying journey.
Before you begin your home search, it may prove to be helpful to meet with loved ones so that you can explain your homebuying goals to them. This will allow you to describe what you'd like to find in your dream home. Plus, meeting with loved ones gives family members and friends an opportunity to ask you questions about your home search.
If you and your loved ones are all on the same page, you'll be able to get ample support as you prepare to kick off your home search. Then, you and your loved ones can check out a broad array of houses and find one that matches or exceeds your expectations.
2. Loved ones can share their homebuying experiences with you.
For those who are entering the real estate market for the first time or have not purchased a house in several years, it may be beneficial to involve loved ones in the property buying process.
Loved ones who have recently purchased homes can provide real estate insights that you may struggle to obtain elsewhere. They can respond to your homebuying concerns and queries and help you prepare to enter the housing market.
Also, loved ones may be able to help you avoid potential pitfalls as you search for the ideal residence. Although some family members and friends may have made mistakes when they bought homes in the past, your loved ones can help you learn from their errors and ensure you can avoid various homebuying pitfalls.
3. Loved ones can help you make tough homebuying decisions.
Let's face it – the decision to buy a home is one of the biggest that an individual may make in his or her lifetime. As such, the decision to purchase a home is not one that should be taken lightly.
Loved ones are happy to listen to your homebuying concerns time and time again. They can offer suggestions and recommendations as you explore homes and help you remain calm, cool and collected at each stage of the homebuying journey.
Of course, if you want additional assistance during the homebuying journey, it never hurts to hire an expert real estate agent. This housing market professional can set up home showings, negotiate with home sellers on your behalf and provide comprehensive homebuying support at any time.
Reach out to loved ones for support as you get ready to search for your dream home. By doing so, you may be able to speed up the homebuying process.
Everyone needs a few minutes to decompress between the office and home. You don’t want to bring any stress from your day into your family time so finding ways to relax before you get home is helpful. Sometimes taking a few minutes to cool down during the commute mentally is enough to help you relax before getting home, but sometimes driving continues to exacerbate your stress level. Finding a place in your neighborhood or near your home where you can park and spend a few minutes decompressing before continuing home can make a big difference to your day. Create a little haven where you spend 15-20 minutes alone. Take the time to let go of any stress or anger built up at the office or to rest for a few minutes so that you have the energy to be a great parent and partner.
Each personality seeks different features in a decompression place. Do you need a quiet place where you can think, or do you prefer a loud place with TVs to distract you from thinking? Does sitting help you relax or does walking around or getting exercise help you clear your mind? Think about what you need and what type of place in your neighborhood could be your new haven.
- Coffee Shop: A coffee shop can be a great place to spend a few minutes by yourself. You can relax with a soothing cup of tea or re-energize with a cup of joe. Coffeehouses offer you the ability to be alone and have your headphones on or read a book, but they also create a space where you can meet people and have some casual conversation to take your mind off the day.
- Restaurant/bar: Finding a local spot with a happy hour might be the right choice for you. Especially if you are a sports fan, a local sports bar or café with TVs might be just the thing to help distract you for a few minutes ahead of dinner.
- Park: After being cooped up in an office all day getting out and taking in some fresh air might be just the thing. Is there a local park or greenbelt near your home where you can go for a nice stroll on the way home? Sit on a park bench to peruse a book, watch dogs play, or stare off at a stream or water feature.
- Library: If you're a bookworm try visiting your local library on the way home. Take a little time to discover a new book or read a couple of chapters of your current book in a pleasantly quiet environment.
- Mall: If you live near a mall try walking around and window shopping by yourself. Get in a little exercise and let your mind wander as you pass the different shop windows.
- Gym: Exercising is an excellent way to decompress and get some positive endorphins flowing through your body. If you have the time to work out for even 20-30 minutes on your way home, it can make a genuine difference to your physical and emotional health and help bring you mental clarity.
If having a local and easily accessible place to decompress is vital to you in a neighborhood, take time to talk with your real estate agent about your needs before beginning your home search.